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FX.co ★ US Refinery Utilization Drops Further: Updated EIA Data Reveals Steeper Decline

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typeContent_19130:::2024-09-25T14:30:00

US Refinery Utilization Drops Further: Updated EIA Data Reveals Steeper Decline

The latest weekly data from the Energy Information Administration (EIA) reveals a further dip in refinery utilization rates in the United States. Updated on September 25, 2024, the current indicator shows a reduction of 1.2%, compared to the previous week's decrease of 0.7%.

The week-on-week comparison highlights that U.S. refinery utilization rates are accelerating in their decline. This week’s performance reflects greater inactivity in refinery operations than observed in the previous reporting period, marking a significant challenge for the industry.

As the sector navigates these fluctuations, industry experts are closely monitoring the root causes and potential long-term impacts on both the supply and pricing of refined petroleum products. The trend underscores the ongoing volatility in the energy market and prompts questions about the resilience of industry infrastructure amidst varying demand and operational constraints.

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